Question

9. A book keeper failed in balancing his trial balance, the credit exceedingthe debit by 250. The amont was entered in a suspense account. Later
the following errors were discovered. Give journal entries to rectify the
errors and prepare the suspense account:
i) Goods amounting to 620 sold to Murugan were correctly
entered in sales book, but entered to his account as 260
ii) Goods amounting to * 55 were sold to Kannan for cash. It wa
correctly entered in cash book, but it was wrongly credited to
Kannan's a/c
iii) A credit balance of 735 of rent amont was shown as 570
iv) The total of returns outwards book amounting to 200 was not
posted in the ledger.
v) Goods worth * 100 were purchased from Murthy but the
amount was entered in the sales account. The account of Murthy
was correctly credited.
(M.S.University Apr. 2000)
(Ans : Suspence a/c Total 615)

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Answer 1

Answer:

balance, the credit exceedingthe debit by 250. The amont was entered in a suspense account. Later

the following errors were discovered. Give journal entries to rectify the

errors and prepare the suspense account:

i) Goods amounting to 620 sold to Murugan were correctly

entered in sales book, but entered to his account as 260

ii) Goods amounting to * 55 were sold to Kannan for cash. It wa

correctly entered in cash book, but it was wrongly credited to

Kannan's a/c

iii) A credit balance of 735 of rent amont was shown as 570

iv) The total of returns outwards book amounting to 200 was not

posted in the ledger.

v) Goods worth * 100 were purchased from Murthy but the

amount was entered in the sales account. The account of Murthy

was correctly credited.

(M.S.University Apr. 2000)

(Ans : Suspence a/c Total 615)We live in a world defined by the pace of change, and whilst the velocity of that change has not always impacted upon our political institut